MTV Russia, a joint venture partnership between Viacom International Media Networks (VIMN) and ProfMedia, will end its run in May next year.
The two companies have agreed to dissolve their partnership, which began in 2007, in a mutual decision. In 2007, Viacom licensed MTV Russia and VH1 Russia to ProfMedia in a deal that was reported to be worth US$360 million.
VIMN will continue to air its other channels, MTV Hits, MTV Dance, MTV Rocks, Nickelodeon, Paramount Comedy and MTV HD, in Russia.
Meanwhile, a channel named Pyatnitsaa, focusing on youth, information and entertainment, will take MTV Russia’s place.
“The two companies have enjoyed a long and fruitful collaboration since 2007, most recently celebrating year-on-year ratings gains for MTV in 2012,” said a joint statement from VIMN and ProfMedia. “Russia remains a critically important market to VIMN, and they’re currently exploring many opportunities for MTV.”